Having had my offer accepted I require leasehold conveyancing in Waterbeach. Before I get started I require certainty as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all are in Waterbeach - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I today plan to offer on a house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Waterbeach. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Waterbeach ?

Most houses in Waterbeach are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Waterbeach in which case you should be shopping around for a Waterbeach conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is part of an estate. Your solicitor will appraise you on the various issues.

I am looking at a two flats in Waterbeach both have approximately 50 years remaining on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in Waterbeach is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the property. The majority of buyers and lenders, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Waterbeach conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Can you provide any top tips for leasehold conveyancing in Waterbeach with the intention of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Waterbeach can be reduced if you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers.
• If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Waterbeach leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord consenting to such alterations. If you dont have the paperwork to hand you should not contact the landlord without checking with your lawyer before hand.
• If there is a history of conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as historic rather than ongoing.
• If you hold a share in a the freehold, you should ensure that you hold the original share certificate. Obtaining a re-issued share certificate is often a lengthy formality and slows down many a Waterbeach home move. If a duplicate share certificate is required, you should approach the company director and secretary or managing agents (if relevant) for this as soon as possible.
• You may think that you are aware of the number of years remaining on your lease but you should verify this via your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

If all goes to plan we aim to complete the disposal of our £ 225000 flat in Waterbeach next week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Waterbeach?

Waterbeach conveyancing on leasehold maisonettes often involves the purchaser’s solicitor sending questions for the landlord to address. Although the landlord is not legally bound to address such questions the majority will be willing to assist. They may levy a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The administration charge demanded by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, without which the charge is not strictly payable. In reality you have no choice but to pay whatever is demanded if you want to complete the sale of your home.

I invested in buying a garden flat in Waterbeach, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Waterbeach with a long lease are worth £200,000. The ground rent is £65 yearly. The lease ceases on 21st October 2084

With 58 years unexpired we estimate the price of your lease extension to span between £23,800 and £27,400 as well as costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.